Birch Hill's Campus Energy Partners
The Campus Energy Partners business that Jeremy Baines runs for Birch Hill is small compared to TWM + Renewables. The purchase price for the midstream assets Campus/Birch Hill acquired from Altagas in Feb 2019 was only $87.8 million (not reported by Birch Hill but in the Altagas financial statements) and they do not appear to have added anything substantial since then. If the Campus business was merged into TWM it would not make much of a difference and probably has no more than $10 to $20 million annual EDITDA, compared to something around $250 million for TWM+ Renewables (rough 2024 estimate).